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RIL Share Price: Reliance also received endorsements from global brokerages Bernstein and Goldman Sachs
Reliance Industries Share Price
Reliance Share Price: Citi Research has reiterated its bullish stance on Reliance Industries Ltd (RIL), joining a growing list of brokerages optimistic about the conglomerate’s growth trajectory. The optimism is largely anchored in the strong momentum of RIL’s telecom and retail segments, especially the structural growth prospects of Reliance Jio.
Citi maintained a ‘Buy’ rating on RIL and raised its target price to Rs 1,690 per share. The brokerage projects a 16% compound annual growth rate (CAGR) in consolidated EBITDA for Jio over the next three years and values the telecom business at $135 billion in enterprise value.
While much of the current market focus is on potential telecom tariff hikes, Citi believes there are several underappreciated structural levers that can drive Jio’s long-term growth. These include subscriber upgrades, expansion of digital services, and enhanced operational efficiencies — all of which could contribute an additional 6–7% growth independent of tariff increases.
The brokerage also highlighted that Jio is well-positioned to expand its revenue market share and improve margins, noting that India’s telecom market remains far from saturation, unlike in more mature global markets.
At 9:20 a.m., shares of Reliance Industries were trading at Rs 1,466.5 on the NSE, up 1% from the previous close.
Earlier in June, Reliance also received endorsements from global brokerages Bernstein and Goldman Sachs. Bernstein raised its target price to Rs 1,640, implying a 15% upside from current levels, and maintained an ‘Outperform’ rating based on sustained growth momentum.
Goldman Sachs added RIL to its APAC Conviction List alongside Taiwan’s TSMC and China’s Huaqin. The firm expects RIL’s EBITDA growth to accelerate to 16% in FY26 from just 2% in FY25, signalling a robust recovery in the coming quarters.
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Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a…Read More
Aparna Deb is a Subeditor and writes for the business vertical of News18.com. She has a nose for news that matters. She is inquisitive and curious about things. Among other things, financial markets, economy, a… Read More
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